FL S1672

Requires that assignments of mortgages be recorded in county official records upon each transfer of beneficial ownership of the mortgage.

Specifies that a mortgage instrument recorded in the name of a "nominee" does not provide sufficient legal notice of the existence of a lien or actual economic ownership of the property.

Defines "mortgagee" to exclude persons designated as "nominee" in a mortgage instrument and requires proper assignment documentation for all subsequent mortgage holders and investors.

Mandates that an assignment of mortgage be recorded before a foreclosure action may be initiated, establishing clear chain of ownership requirements.

Effective date: July 1, 2012.